Latest News for Edenred Stock (OTC:EDNMY)

Edenred is a France-listed prepaid corporate services provider operating in more than 40 countries. The company was listed in 2010 following a spinoff from hotel group Accor. Edenred's main business, Ticket Restaurant, offers prepaid meal vouchers that employers provide to their employees as an additional benefit. The company is also involved in other areas such as prepaid fuel cards and payment and expense-management systems.

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Stocks That Hit 52-Week Highs On Thursday

Edenred SE

<p>Keefe, Bruyette &amp; Woods  analyst Christopher Mcgratty   maintains UMB Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UMBF#NASDAQ">UMBF</a>) with a Market Perform and raises the price target from $86 to $93.</p>


Price Target

Analyst Ratings

UMBF

Keefe, Bruyette & Woods Maintains Market Perform on UMB Financial, Raises Price Target to $93

WIIM

PRCT

PROCEPT BioRobotics shares are trading higher after the company reported better-than-expected Q1 financial results and issued FY24 revenue guidance above estimates.

<p>JP Morgan  analyst Anupam Rama   maintains Kiniksa Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNSA#NASDAQ">KNSA</a>) with a Overweight and raises the price target from $26 to $30.</p>


KNSA

JP Morgan Maintains Overweight on Kiniksa Pharmaceuticals, Raises Price Target to $30

<p>The U.S. manufacturing activity sentiment <a href="https://www.benzinga.com/topic/manufacturing">missed expectations in April</a>.</p>
<p>After a brief uptick in March, activity retraced back into contraction, according to the Institute for Supply Management (ISM). </p>
<h3 class="wp-block-heading">April ISM Manufacturing PMI Report: Key Highlights</h3>
<ul>
<li>The ISM Manufacturing PMI declined from 50.3% to 49.2%, marking a decrease of 1.1 percentage points decline and missing expectations of 50%. Thus, April saw the manufacturing sector contract once again, following a single month of expansion, which had interrupted a streak of 16 consecutive months of contraction.</li>
<li>The New Orders Index returned to contraction territory, registering 49.1 percent in April, Following one month of expansion. This figure represents a 2.3 percentage point decrease from the 51.4 percent recorded in March.</li>
<li>The Prices Index climbed to 60.9%, marking a 5.1 percentage point increase compared to the reading of 55.8% in March. It marks a robust expansion territory, reflecting the ongoing escalation of commodity-driven costs. Meanwhile, imports maintained growth, albeit at a slower pace in April.</li>
<li>&#8220;The U.S. manufacturing sector dropped back into contraction after growing in March, the first time since September 2022 that the sector reported expansion. Although demand improvement slowed, output remains positive and inputs stayed accommodative,&#8221; said <strong>Timothy Fiore</strong>, chair of the Institute for Supply Management. </li>
<li>"Demand remains at the early stages of recovery, with continuing signs of improving conditions. Production execution continued to expand in March, but at a slower rate of growth than in prior months. Suppliers continue to have capacity but work to improve lead times, due to their raw material supply chain disruptions,&#8221; he added. </li>
<li>The Employment Index registered at 48.6% in April, showing an increase of 1.2 percentage points from March&#8217;s figure of 47.4%.</li>
</ul>
<p>The Bureau of Labor Statistics reported Tuesday that overall U.S. job vacancies decreased from 8.81 million in February to 8.49 million in March, missing expectations of a shallower decline to 8.69 million.</p>
<p><strong>Market Reactions: </strong>The U.S. dollar index (DXY), as tracked by the <strong>Invesco DB USD Index Bullish Fund ETF </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), slightly weakened following Tuesday&#8217;s data prints. </p>
<p>Stocks inched lower, extending Tuesday&#8217;s declines. The S&amp;P 500, as monitored through the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), fell 0.3%, while the tech-heavy Nasdaq 100 index underperformed, down 0.6%. </p>
<p>Traders are eagerly anticipating a pivotal Federal Reserve Open Market Committee meeting scheduled for 2:00 p.m. on Wednesday, followed by Fed Chair Jerome Powell&#8217;s press conference at 2:30 p.m.</p>
<p><em>Read Now:<a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa"> Is Hawkish Shift On Inflation Imminent? Wall Street Analysts, Traders Brace For Fed Impact</a></em></p>
<p><em>Image: Shutterstock</em></p>


Macro Economic Events

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PowerShares DB US Dollar Index Bullish Fund

Manufacturing Activity Gauge Contracts Again In April: Commodity Costs Hit Producers

<p>Keybanc  analyst Thomas Blakey   maintains CommVault Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVLT#NASDAQ">CVLT</a>) with a Overweight and raises the price target from $109 to $122.</p>


CVLT

Keybanc Maintains Overweight on CommVault Systems, Raises Price Target to $122

<p>Keefe, Bruyette &amp; Woods  analyst Ryan Tomasello   maintains LendingTree (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TREE#NASDAQ">TREE</a>) with a Outperform and raises the price target from $45 to $60.</p>


TREE

Keefe, Bruyette & Woods Maintains Outperform on LendingTree, Raises Price Target to $60

<p>JP Morgan  analyst Chris Schott   maintains Eli Lilly and Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) with a Overweight and raises the price target from $850 to $900.</p>


JP Morgan Maintains Overweight on Eli Lilly and Co, Raises Price Target to $900

<p><strong>Marriott International Inc</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) shares are trading lower after the company's <a href="https://www.benzinga.com/pressreleases/24/05/n38545409/marriott-international-reports-first-quarter-2024-results">first-quarter adjusted EPS missed estimates.</a></p>
<p>The company reported first-quarter FY24 sales growth of 6.5% year-on-year to $5.98 billion, beating the analyst consensus estimate of $5.93 billion.</p>
<p>Comparable systemwide constant dollar RevPAR increased 4.2% worldwide, 1.5% in the U.S. &amp; Canada, and 11.1% in international markets, compared to the first-quarter FY23.</p>
<p>Total expenses declined 9% Y/Y to $5.1 billion. Adjusted EBITDA for the quarter was $1.14 billion versus $1.09 billion a year ago.</p>
<p>Operating margin for the quarter contracted Y/Y from 16.9% to 14.7%, with operating income increasing 8% to $876 billion.</p>
<p>Adjusted EPS of $2.13 <a href="https://www.benzinga.com/calendars/earnings">missed the consensus</a> estimate of $2.17.</p>
<p>The company added about 46,000 rooms globally during the first-quarter. Marriott held $0.4 billion in cash and equivalents as of March 31, 2024.</p>
<p>In first-quarter, Marriott repurchased 4.8 million shares of common stock for $1.2 billion. The company returned $1.7 billion to shareholders year-to-date through April 26.</p>
<p>&#8220;We are excited about the launch of MGM Collection with Marriott Bonvoy during the quarter, which added nearly 37,000 rooms to our system from our strategic agreement with MGM Resorts International," said President and CEO <strong>Anthony Capuano</strong>.</p>
<p><strong>Outlook</strong>: Marriott raised FY24 adjusted EPS outlook from <a href="https://www.benzinga.com/news/earnings/24/02/37099690/why-marriott-international-shares-are-falling-today">$9.18-$9.52 </a>to  $9.31-$9.65 versus an estimate of $10.74.</p>
<p>The company expects second-quarter adjusted EPS of $2.43-$2.48 against an estimate of $2.52.</p>
<p><strong>Price Action</strong>: MAR shares are trading lower by 1.03% to $233.78 at last check Wednesday.</p>
<p><em>Now Read: <a href="https://www.benzinga.com/markets/cannabis/24/05/38549891/cannabis-advocates-say-deas-move-represents-progress-but-not-justice-ends-war-on-medical-marijua">Cannabis Advocates Say DEA&#8217;s Move Represents &#8216;Progress But Not Justice,&#8217; Ends War On Medical Marijuana Patients, But Not War On Drugs</a></em></p>
<p><em>Image created using artificial intelligence via Midjourney.</em></p>


Earnings

General

Hotel Operator Marriott Slips After Mixed Q1 Earnings

<p>Deep-pocketed investors have adopted a bearish approach towards ARM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ARM usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for ARM Holdings. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 38% leaning bullish and 46% bearish. Among these notable options, 9 are puts, totaling $644,615, and 4 are calls, amounting to $203,535.</p>
<h3>Expected Price Movements</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $90.0 to $120.0 for ARM Holdings during the past quarter. </p>
<h3>Analyzing Volume &amp; Open Interest</h3>
<p>Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.</p>
<p>This data can help you track the liquidity and interest for ARM Holdings's options for a given strike price.</p>
<p>Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of ARM Holdings's whale activity within a strike price range from $90.0 to $120.0 in the last 30 days. </p>
<h3>ARM Holdings 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1714574757_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>ARM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$3.95</td>
<td>$3.75</td>
<td>$3.75</td>
<td>$102.00</td>
<td>$187.5K</td>
<td>988</td>
<td>818</td>
</tr>
<tr>
<td>ARM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$14.15</td>
<td>$14.0</td>
<td>$14.0</td>
<td>$100.00</td>
<td>$116.2K</td>
<td>327</td>
<td>85</td>
</tr>
<tr>
<td>ARM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/03/24</td>
<td>$1.87</td>
<td>$1.86</td>
<td>$1.87</td>
<td>$96.00</td>
<td>$93.5K</td>
<td>456</td>
<td>1.2K</td>
</tr>
<tr>
<td>ARM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/03/24</td>
<td>$1.49</td>
<td>$1.43</td>
<td>$1.49</td>
<td>$96.00</td>
<td>$74.5K</td>
<td>456</td>
<td>304</td>
</tr>
<tr>
<td>ARM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$19.1</td>
<td>$19.0</td>
<td>$19.0</td>
<td>$100.00</td>
<td>$68.4K</td>
<td>2.5K</td>
<td>40</td>
</tr>
</tbody>
</table>
</p>
<h3>About ARM Holdings</h3>
<p>Arm Holdings is the IP owner and developer of the ARM architecture (ARM stands for Acorn RISC Machine), which is used in 99% of the world's smartphone CPU cores, and it also has high market share in other battery-powered devices like wearables, tablets, or sensors. Arm licenses its architecture for a fee, offering different types of licenses depending on the flexibility the customer needs. Customers like Apple or Qualcomm buy architectural licenses, which allows them to modify the architecture and add or delete instructions to tailor the chips to their specific needs. Other clients directly buy off-the-shelf designs from Arm. Both off-the-shelf and architectural customers pay a royalty fee per chip shipped.</p>
<p>Having examined the options trading patterns of ARM Holdings, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance</p>
<h3>Present Market Standing of ARM Holdings</h3>
<ul>
<li>Currently trading with a volume of 1,710,897, the ARM's price is down by -3.96%, now at $97.2. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 7 days.</li>
</ul>
<h3>Professional Analyst Ratings for ARM Holdings</h3>
<p>Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $119.8.</p>
<ul>
<li>An analyst from Susquehanna persists with their Neutral rating on ARM Holdings, maintaining a target price of $85. </li>
<li>In a cautious move, an analyst from Evercore ISI Group downgraded its rating to Outperform, setting a price target of $156. </li>
<li>An analyst from Wells Fargo persists with their Overweight rating on ARM Holdings, maintaining a target price of $115. </li>
<li>Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for ARM Holdings, targeting a price of $135. </li>
<li>An analyst from Goldman Sachs persists with their Buy rating on ARM Holdings, maintaining a target price of $108. </li>
</ul>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest ARM Holdings options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


Options

Unpacking the Latest Options Trading Trends in ARM Holdings

<p>Investors with significant funds have taken a bullish position in Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), a development that retail traders should be aware of.</p>
<p>This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in NKE usually indicates foreknowledge of upcoming events.</p>
<p>Today, Benzinga's options scanner identified 8 options transactions for Nike. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 62% being bullish and 0% bearish. Of all the options we discovered, 7 are puts, valued at $509,057, and there was a single call, worth $91,350.</p>
<h3>Projected Price Targets</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $105.0 for Nike during the past quarter. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Nike's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Nike's substantial trades, within a strike price spectrum from $80.0 to $105.0 over the preceding 30 days.</p>
<h3>Nike Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1714574752_0.png" alt="Options Call Chart" /></p>
<h3>Significant Options Trades Detected:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>NKE</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$7.45</td>
<td>$7.35</td>
<td>$7.35</td>
<td>$90.00</td>
<td>$294.0K</td>
<td>10.5K</td>
<td style="text-align: right;">7</td>
</tr>
<tr>
<td>NKE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$10.15</td>
<td>$10.0</td>
<td>$10.15</td>
<td>$85.00</td>
<td>$91.3K</td>
<td>384</td>
<td style="text-align: right;">90</td>
</tr>
<tr>
<td>NKE</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$12.8</td>
<td>$12.55</td>
<td>$12.67</td>
<td>$100.00</td>
<td>$63.3K</td>
<td>6.4K</td>
<td style="text-align: right;">50</td>
</tr>
<tr>
<td>NKE</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$3.65</td>
<td>$3.55</td>
<td>$3.6</td>
<td>$80.00</td>
<td>$36.0K</td>
<td>8.5K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>NKE</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$5.55</td>
<td>$5.5</td>
<td>$5.5</td>
<td>$95.00</td>
<td>$30.2K</td>
<td>8.8K</td>
<td style="text-align: right;">85</td>
</tr>
</tbody>
</table>
</p>
<h3>About Nike</h3>
<p>Nike is the largest athletic footwear and apparel brand in the world. Key categories include basketball, running, and football (soccer). Footwear generates about two thirds of its sales. Its brands include Nike, Jordan, and Converse (casual footwear). Nike sells products worldwide through company-owned stores, franchised stores, and third-party retailers. The firm also operates e-commerce platforms in more than 40 countries. Nearly all its production is outsourced to contract manufacturers in more than 30 countries. Nike was founded in 1964 and is based in Beaverton, Oregon.</p>
<p>After a thorough review of the options trading surrounding Nike, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Current Position of Nike</h3>
<ul>
<li>With a trading volume of 1,640,730, the price of NKE is down by -1.75%, reaching $90.65.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 57 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Nike</h3>
<p>2 market experts have recently issued ratings for this stock, with a consensus target price of $114.0.</p>
<ul>
<li>Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $115.</li>
<li>In a positive move, an analyst from B of A Securities has upgraded their rating to Buy and adjusted the price target to $113. </li>
</ul>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Nike with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


A Closer Look at Nike's Options Market Dynamics

<p>Financial giants have made a conspicuous bullish move on Chipotle Mexican Grill. Our analysis of options history for Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) revealed 17 unusual trades.</p>
<p>Delving into the details, we found 41% of traders were bullish, while 29% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $208,500, and 12 were calls, valued at $528,828.</p>
<h3>Expected Price Movements</h3>
<p>After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $2570.0 and $3450.0 for Chipotle Mexican Grill, spanning the last three months.</p>
<h3>Volume &amp; Open Interest Development</h3>
<p>In today's trading context, the average open interest for options of Chipotle Mexican Grill stands at 106.18, with a total volume reaching 199.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Chipotle Mexican Grill, situated within the strike price corridor from $2570.0 to $3450.0, throughout the last 30 days.</p>
<h3>Chipotle Mexican Grill 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1714574746_0.png" alt="Options Call Chart" /></p>
<h3>Biggest Options Spotted:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th style="text-align: right;"><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>CMG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$92.0</td>
<td>$86.6</td>
<td>$91.3</td>
<td>$3200.00</td>
<td>$82.1K</td>
<td style="text-align: right;">81</td>
<td style="text-align: right;">15</td>
</tr>
<tr>
<td>CMG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$106.7</td>
<td>$100.0</td>
<td>$100.0</td>
<td>$3450.00</td>
<td>$70.0K</td>
<td style="text-align: right;">188</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>CMG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$680.0</td>
<td>$662.1</td>
<td>$662.1</td>
<td>$3000.00</td>
<td>$66.2K</td>
<td style="text-align: right;">42</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>CMG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/31/24</td>
<td>$594.0</td>
<td>$584.0</td>
<td>$594.0</td>
<td>$2570.00</td>
<td>$59.4K</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>CMG</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/10/24</td>
<td>$246.0</td>
<td>$228.0</td>
<td>$236.63</td>
<td>$2900.00</td>
<td>$47.3K</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">2</td>
</tr>
</tbody>
</table>
</p>
<h3>About Chipotle Mexican Grill</h3>
<p>Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $9.9 billion in 2023. The Mexican concept is predominately company-owned, although it recently inked a development agreement with Alshaya Group in the Middle East. It had a footprint of nearly 3,440 stores at the end of 2023, heavily indexed to the United States, although it maintains a small presence in Canada, the UK, France, and Germany. Chipotle sells burritos, burrito bowls, tacos, quesadillas, and beverages, with a selling proposition built around competitive prices, high-quality food sourcing, speed of service, and convenience. The company generates its revenue entirely from restaurant sales and delivery fees.</p>
<p>Having examined the options trading patterns of Chipotle Mexican Grill, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance</p>
<h3>Where Is Chipotle Mexican Grill Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 38,336, the CMG's price is down by -0.94%, now at $3130.03. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 84 days.</li>
</ul>
<h3>What Analysts Are Saying About Chipotle Mexican Grill</h3>
<p>Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $3100.0.</p>
<ul>
<li>An analyst from Raymond James has revised its rating downward to Outperform, adjusting the price target to $3340. </li>
<li>An analyst from Stephens &amp; Co. downgraded its action to Equal-Weight with a price target of $3010. </li>
<li>An analyst from Oppenheimer downgraded its action to Outperform with a price target of $3300. </li>
<li>Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Chipotle Mexican Grill, targeting a price of $2750. </li>
<li>Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Chipotle Mexican Grill, targeting a price of $3100. </li>
</ul>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Chipotle Mexican Grill, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


Market Whales and Their Recent Bets on CMG Options

<p><a href="https://www.sec.gov/Archives/edgar/data/764065/000076406524000126/xslF345X05/wk-form4_1714574246.xml" title="https://www.sec.gov/Archives/edgar/data/764065/000076406524000126/xslF345X05/wk-form4_1714574246.xml">https://www.sec.gov/Archives/edgar/data/764065/000076406524000126/xslF345X05/wk-form4_1714574246.xml</a></p>


Insider Trades

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Reiteration

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<p>Denmark&#8217;s healthcare authority has decided to favor less expensive drugs for type 2 diabetes patients, impacting the prescription of costlier GLP-1 drugs such as <strong>Novo Nordisk&#8217;s</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) Ozempic. This comes a day ahead of the company announcing its first-quarter earnings of 2024.</p>
<p><strong>What Happened</strong>: The Danish Medicines Agency disclosed on Wednesday that starting from Nov. 25, patients will be prescribed less expensive drugs before resorting to GLP-1 drugs. The agency noted that in 2023, half of the new type 2 diabetes patients started their treatment with a reimbursed GLP-1 drug without trying a cheaper alternative first.</p>
<p>Despite the popularity of GLP-1 drugs like Ozempic due to their weight-loss effects, the Danish Medicines Agency expects nearly half of all current GLP-1 drug users to switch to cheaper alternatives. The agency reassured that it would continue to reimburse patients for their GLP-1 drugs if the less expensive alternatives do not suffice.</p>
<p><em>See Also: <a href="https://www.benzinga.com/general/biotech/24/04/38500072/astrazeneca-admits-its-covid-19-vaccine-may-cause-blood-clotting-side-effect-in-very-rare-case-bu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AstraZeneca Admits Its COVID-19 Vaccine May Cause Blood Clotting Side Effect In Very Rare Case, But Causal Mechanism Unknown</a></em></p>
<p><strong>Why It Matters</strong>: This decision will affect drugs like Novo Nordisk&#8217;s Ozempic and Rybelsus, and <strong>Eli Lilly&#8217;s</strong> Trulicity. The Medicines Agency has recommended the less costly alternatives on par with GLP-1 drugs.</p>
<p>This move comes in the wake of Sen. <strong>Bernie Sanders&#8217;</strong> (I-Vt.) <a href="https://www.benzinga.com/news/24/03/38012469/bernie-sanders-slams-outrageous-prices-of-miracle-weight-loss-drug-ozempic-mulls-meeting-with-novo-n">criticism of the &#8220;outrageous&#8221; prices </a>of Ozempic. Furthermore, <a href="https://www.benzinga.com/general/education/24/04/38532194/americans-swap-5-burgers-for-1-000-weight-loss-drugs-is-soda-getting-left-behind-too">Americans have been swapping fast food for weight-loss drugs</a> like Ozempic, which have quadrupled the number of prescriptions to more than 8 million last year. </p>
<p>However, the popularity of these drugs has also led to <a href="https://www.benzinga.com/markets/asia/24/04/38075244/novo-nordisks-popular-diabetes-drug-ozempic-starter-kits-face-extended-shortages-in-germany-faces-bi">shortages in countries like Germany</a>.</p>
<p><strong>Price Action:</strong> Novo Nordisk&#8217;s stock closed at $128.31 on Tuesday, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.</p>
<p><em>Read Next: <a href="https://www.benzinga.com/partner/health-care/24/04/38378856/90-of-americans-believe-we-are-experiencing-a-mental-health-care-crisis-elevate-health-and-we?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">90% Of Americans Believe We Are Experiencing A Mental Health Care Crisis – Elevate Health And Wellness Is Providing Relief</a></em></p>
<p><em>Photo via Shutterstock</em></p>
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Biotech

Eurozone

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Setback For Novo Nordisk? Denmark Shifts Prescription Guidelines, Favoring Cost-Effective Alternatives For Ozempic

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SMBC

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